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Nov 24, 2020 at 5:14 PMThe Port of Hamburg recorded a turning point in cargo handling in the third quarter of 2020. The container throughput amounts to 2.3 million TEU (-4.9 percent) and the total seaborne cargo handling comprises 32 million tons (-8 percent). This is a significant increase compared to the second quarter.
(Hamburg) The decline in seaborne cargo handling in Germany’s largest universal port is significantly lower at eight percent in the third quarter than in the second quarter, where the Port of Hamburg recorded a decrease of 16.2 percent. The globally felt negative impacts of the Corona pandemic continue to be reflected in the cargo handling development at the Port of Hamburg.
The results in the third quarter give hope, according to Hafen Hamburg Marketing (HHM), that the double-digit revenue decline has been halted. This was primarily caused by the shutdown of many economic sectors and weaker consumer demand. In the third quarter, HHM believes a positive upward trend is once again visible.
Stabilization Since July
“Since July, we have seen a stabilization in cargo handling development, leading to an overall smaller decline in seaborne cargo handling at the Port of Hamburg. The reduced infection rates in summer and the subsequent easing of pandemic containment measures, as well as the replenishment of stocks for the Christmas business, can be cited as causes,” explains Axel Mattern, Board Member of Hafen Hamburg Marketing. It is noteworthy that the Port of Hamburg continues to provide its handling and logistics services 24/7. “The reliable supply of goods and raw materials to the population and economy continues safely even under difficult global economic conditions,” emphasizes Mattern and adds: “The port is fully operational with its handling terminals, logistics and service companies, as well as transport connections to the hinterland.”
Decline in All Areas
In the first three quarters of the year, 93.2 million tons of seaborne goods were loaded or unloaded at the terminals in the Port of Hamburg. This represents a decline of 10.7 percent compared to the same period last year. Both main handling segments are affected. The general cargo handling with 65.2 million tons (-9.9 percent) and bulk cargo handling with 28 million tons (-12.4 percent) both remained significantly below the good results of the previous year. In the container handling segment, a total of 6.3 million TEU (20-foot standard containers) were handled in Hamburg in the first three quarters. This is a decrease of 9.9 percent compared to the same period last year.
Decline with Trade Partner China
In the container handling of the ten most important trading partners of the Port of Hamburg, the development in the first three quarters varied. The significant decline in seaborne container handling with China (-11.3 percent), by far Hamburg’s most important trading partner, could not be offset by positive developments with other countries. Additionally, besides China, Russia (-15.1 percent), Sweden (-11.8 percent), South Korea (-11.8 percent), Denmark (-3.4 percent), and Poland (-9.6 percent) also show partly double-digit declines in seaborne container handling.
Surprise USA
Among the top ten trading partners of the Port of Hamburg, those with an increase in container traffic include the USA (+0.1 percent), as well as Singapore (+7.1 percent), the United Kingdom (+41.0 percent), and Malaysia (+5.5 percent). For the USA, which ranks second in Hamburg’s container partner ranking, a growth of 439,000 TEU was recorded in the first three quarters. “The consistently positive container traffic development with the USA is surprising against the backdrop of the economic performance affected by Corona and declining demand there. The positive development in container traffic with the United Kingdom is attributed to increased transport of empty containers for the German market and intensified deliveries to the UK ahead of the upcoming Brexit,” explains Ingo Egloff, board colleague of Axel Mattern.
Imports More Affected than Exports
The decline in imports at the Port of Hamburg was stronger at 14.4 percent compared to the decline in exports (-5.5 percent). On the import side, the decreased steel production led to less handling of ore and coal. In contrast, the handling of agricultural bulk in the suction goods segment developed positively in the first three quarters, reaching a volume of 5.6 million tons (+20.1 percent). Significantly more exports of grain and fertilizers are primarily the reason for this very good handling development.
“We will not reach the strong results of the previous year despite the recovery since mid-year,” concludes Egloff. “But the development since July gives hope that we will only have single-digit losses by the end of the year.”
Graphics for the 3rd Quarter
Photo: © Hafen Hamburg / Gunnar Paulig
